diff --git a/CHANGELOG.md b/CHANGELOG.md
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+1.2.3
+
+* Correctly handle nested association lists
+* Increase upper bound on `dhall` dependency
+* Increase upper bound on `yaml` dependency
+
 1.2.2
 
 * Increase upper bound on `dhall` dependency
diff --git a/dhall-json.cabal b/dhall-json.cabal
--- a/dhall-json.cabal
+++ b/dhall-json.cabal
@@ -1,5 +1,5 @@
 Name: dhall-json
-Version: 1.2.2
+Version: 1.2.3
 Cabal-Version: >=1.8.0.2
 Build-Type: Simple
 Tested-With: GHC == 7.10.2, GHC == 8.0.1
@@ -22,7 +22,10 @@
     The "Dhall.JSON" module also contains instructions for how to use this
     package
 Category: Compiler
-Extra-Source-Files: CHANGELOG.md
+Extra-Source-Files:
+    CHANGELOG.md
+    tasty/data/*.dhall
+    tasty/data/*.json
 Source-Repository head
     Type: git
     Location: https://github.com/dhall-lang/dhall-json
@@ -32,7 +35,7 @@
     Build-Depends:
         base                      >= 4.8.0.0  && < 5   ,
         aeson                     >= 1.0.0.0  && < 1.5 ,
-        dhall                     >= 1.15.0   && < 1.17,
+        dhall                     >= 1.15.0   && < 1.18,
         insert-ordered-containers                < 1.14,
         optparse-applicative      >= 0.14.0.0 && < 0.15,
         text                      >= 0.11.1.0 && < 1.3 ,
@@ -58,11 +61,24 @@
     Hs-Source-Dirs: dhall-to-yaml
     Main-Is: Main.hs
     Build-Depends:
-        base                                  ,
-        bytestring                      < 0.11,
-        dhall                                 ,
-        dhall-json                            ,
-        optparse-applicative                  ,
-        yaml             >= 0.5.0    && < 0.10,
+        base                                   ,
+        bytestring                       < 0.11,
+        dhall                                  ,
+        dhall-json                             ,
+        optparse-applicative                   ,
+        yaml                 >= 0.5.0 && < 0.11,
         text
     GHC-Options: -Wall
+
+Test-Suite tasty
+    Type: exitcode-stdio-1.0
+    Hs-Source-Dirs: tasty
+    Main-Is: Main.hs
+    Build-Depends:
+        base,
+        aeson             ,
+        dhall             ,
+        dhall-json        ,
+        tasty       <  1.2,
+        text              ,
+        tasty-hunit >= 0.2
diff --git a/src/Dhall/JSON.hs b/src/Dhall/JSON.hs
--- a/src/Dhall/JSON.hs
+++ b/src/Dhall/JSON.hs
@@ -512,7 +512,7 @@
 
         Dhall.Core.ListLit a b ->
             case transform of
-                Just c  -> c
+                Just c  -> loop c
                 Nothing -> Dhall.Core.ListLit a' b'
           where
             elements = Data.Foldable.toList b
diff --git a/tasty/Main.hs b/tasty/Main.hs
new file mode 100644
--- /dev/null
+++ b/tasty/Main.hs
@@ -0,0 +1,61 @@
+{-# LANGUAGE OverloadedStrings #-}
+{-# LANGUAGE RecordWildCards   #-}
+
+module Main where
+
+import Dhall.JSON (Conversion(..))
+import Test.Tasty (TestTree)
+
+import qualified Control.Exception
+import qualified Data.Aeson
+import qualified Data.Text.IO
+import qualified Dhall.Import
+import qualified Dhall.JSON
+import qualified Dhall.Parser
+import qualified Test.Tasty
+import qualified Test.Tasty.HUnit
+
+main :: IO ()
+main = Test.Tasty.defaultMain testTree
+
+testTree :: TestTree
+testTree =
+    Test.Tasty.testGroup "dhall-json"
+        [ issue48
+        ]
+
+issue48 :: TestTree
+issue48 = Test.Tasty.HUnit.testCase "Issue #48" assertion
+  where
+    assertion = do
+        let file = "./tasty/data/issue48.dhall"
+
+        code <- Data.Text.IO.readFile file
+
+        parsedExpression <- case Dhall.Parser.exprFromText file code of
+            Left  exception        -> Control.Exception.throwIO exception
+            Right parsedExpression -> return parsedExpression
+
+        resolvedExpression <- Dhall.Import.load parsedExpression
+
+        let mapKey     = "mapKey"
+        let mapValue   = "mapValue"
+        let conversion = Conversion {..}
+
+        let convertedExpression =
+                Dhall.JSON.convertToHomogeneousMaps conversion resolvedExpression
+
+        actualValue <- case Dhall.JSON.dhallToJSON convertedExpression of
+            Left  exception   -> Control.Exception.throwIO exception
+            Right actualValue -> return actualValue
+
+        result <- Data.Aeson.eitherDecodeFileStrict "./tasty/data/issue48.json"
+
+        expectedValue <- case result of
+            Left  string        -> fail string
+            Right expectedValue -> return expectedValue
+
+        let message =
+                "Conversion to homogeneous maps did not generate the expected JSON output"
+
+        Test.Tasty.HUnit.assertEqual message expectedValue actualValue
diff --git a/tasty/data/issue48.dhall b/tasty/data/issue48.dhall
new file mode 100644
--- /dev/null
+++ b/tasty/data/issue48.dhall
@@ -0,0 +1,1 @@
+[ { mapKey = "somekey", mapValue = [ { mapKey = "\$gt", mapValue = 100 } ] } ]
diff --git a/tasty/data/issue48.json b/tasty/data/issue48.json
new file mode 100644
--- /dev/null
+++ b/tasty/data/issue48.json
@@ -0,0 +1,5 @@
+{
+  "somekey": {
+    "$gt": 100
+  }
+}